CBOT corn futures spent a majority of the session in the red, only to end slightly higher by the close. Dec continues to hold major chart-based support, and still there are many questions surrounding US yield potential. Much better rainfall lies in the offing across the Plains and Western Midwest, but will it fall in…
US Forecast Wetter in Western Midwest, Still Warm Late Aug: The EU and GFS models have added rainfall amounts and coverage to NE, IA and the Dakotas through the next 5-7 days. Benefit to corn yield there will be minimal (37-45% of the crop is in the dough stage across the Dakotas), but coming rainfall…
Soybeans slipped to new lows in early Monday trading and were mostly 5-7 cents lower at the close, but near the highs of the day at the close, while August soybeans were off 10 cents for the day at expiration. Commodity fund traders were estimated sellers of 3,500 contracts each in soybeans and soyoil, and…
The August WASDE report featured modest updates to the beef production and cattle price forecasts for the 1st quarter of 2018. Production was lowered by 220 Mil Lbs from the July forecast and projected at 6,325 Mil Lbs, but if realized would be the largest 1st quarter production rate since 2011. The USDA also lowered…
October hogs opened higher on Monday and extended gains through the day, marking the best close in 5 weeks while August hogs went off at $84.45, just under the high scored in early July. The hog index continues to slide on increasing supplies and was down $.25 at $85.25 and projected $.47 lower for Tuesday.…
